India has surged ahead of the United States to become the second-largest 5G handset market globally, trailing only China. This development highlights the growing demand for 5G smartphones in emerging markets, particularly in India, where budget-friendly options have fueled growth.
Global 5G Handset Shipments See 20% Growth in 2024
According to a report by Counterpoint Research, global 5G handset shipments increased by 20% year-on-year in the first half of 2024. Apple led the global 5G handset market, accounting for over 25% of total shipments, driven by the success of its iPhone 15 and 14 series.
5G adoption has been steadily increasing worldwide, with more handsets becoming available in the budget segment. This trend has led to a notable surge in demand for 5G smartphones, especially in emerging markets like India, where consumers are looking to upgrade their devices.
India Surpasses the US in 5G Handset Market
India has overtaken the United States as the world’s second-largest 5G handset market during the first half of 2024. Senior analyst Prachir Singh from Counterpoint Research attributes this growth to strong shipments from brands like Xiaomi, Vivo, and Samsung, particularly in the budget segment.
“India became the second-biggest 5G handset market during the first half, overtaking the US. The strong shipments from Xiaomi, Vivo, Samsung, and other brands in the budget segment were the main reason for this trend,” Singh said.
Apple Leads 5G Handset Shipments Globally
Apple continues to dominate the global 5G handset market, securing more than 25% of shipments. The iPhone 15 and 14 series played a significant role in the company’s success, taking the top four spots in the list of 5G models. Samsung followed in the second position, capturing over 21% of the market share with strong performance from its Galaxy A and S24 series.
Both Apple and Samsung held five spots each in the top-10 list of 5G handset models for the first half of 2024.
5G Handset Growth in Emerging Markets
Other emerging markets have also seen rapid growth in 5G handset adoption, with consumers opting for these devices as affordable 5G smartphones become available. The Asia-Pacific region accounted for 63% of overall global net adds in 5G handsets, commanding a 58% share of global 5G shipments.
Regions such as Europe and the Middle East and Africa (MEA) also witnessed double-digit growth in 5G handset shipments during this period.
5G Handsets to See Further Growth in Lower Price Segments
As 5G penetration increases and networks expand globally, the demand for 5G handsets is expected to rise further. Tarun Pathak, Research Director at Counterpoint, emphasized that the “democratisation” of 5G handsets will continue to drive growth, especially as more affordable options become available in emerging markets.
Conclusion
India’s rapid adoption of 5G technology, along with the growing availability of affordable smartphones, has made it the second-largest 5G handset market in the world. With global brands like Apple and Samsung dominating the market and increased interest in 5G devices in emerging economies, this trend is set to continue in the coming years.
